Category: Gold

In recent days Gold has been more oversold than the gold stocks. Entering this week, the gold stocks were fresh off a major technical breakdown. An upside or downside break can lead to a market stretching beyond what typically qualifies as overbought or oversold. After Monday’s selloff, the gold stocks are hitting oversold levels but… Read More

Gold can’t seem to catch a break. The yellow metal normally acts as a safe haven in times of political and economic strife, but in the face of Turkey’s lira meltdown, investors have taken cover instead in the U.S. dollar. On Monday, the stronger greenback pushed gold to end below $1,200 an ounce for the… Read More

(Bloomberg) — Billionaire hedge-fund manager Ray Dalio maintained his holdings in the two biggest gold-backed ETFs even as an investor exodus sent prices of the metal tumbling. As of June 30, Dalio’s Bridgewater Associates maintained its 3.9 million shares in SPDR Gold Shares, the largest exchange-traded funds backed by bullion, and 11.3 million in iShares… Read More

JOHANNESBURG, Aug 14 (Reuters) – South Africa mines minister said on Tuesday he was concerned by bullion miner Gold Fields’ plan to cut around 1,100 jobs without due regard to processes outlined in the Mineral and Petroleum Resources Development Act. Mineral Resources Minister Gwede Mantashe said some companies were not meaningfully engaging with the department… Read More

Canadian gold exploration and development company Columbus Gold (TSX:CGT) plans to buy up to a 70% interest in IAMGOLD’s (TSX:IMG) the Maripa project, located in French Guiana. The project is made up of five contiguous exploration permits and has a historic gold production of around 40,000 ounces of gold, mined between 1985 and 1996. “With… Read More

South African miner Gold Fields (NYSE, JSE:GFI) plans to cut about 1,560 employees and contractors at its massive South Deep mine, as it tries to save the struggling operation, which has the potential to produce for the next 70 years. South Deep, Gold Field’s only mine left in South Africa, was built to target the world’s… Read More

In recent days Gold has been more oversold than the gold stocks. Entering this week, the gold stocks were fresh off a major technical breakdown. An upside or downside break can lead to a market stretching beyond what typically qualifies as overbought or oversold. After Monday’s selloff, the gold stocks are hitting oversold levels but… Read More

Shares in Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) clawed back some of its earlier losses in after hours trade on Monday after the company and its JV partner NovaGold Resources’ (TSX, NYSE-MKT: NG) announced final federal permits for its massive Donlin project. Barrick said the US Army Corps of Engineers and Bureau of Land Management issued a… Read More

Courtesy of: Visual Capitalist Canada is a mining nation. From the Rockies to the Canadian Shield, and from the Plains and to the North, the variety of geology that exists in the country is immense – and this has created a large and unique opportunity for ground-breaking mineral discoveries. As a result, Canada is… Read More

(Bloomberg) — Gold may be trading at its lowest in 18 months in dollar terms but look at the precious metal in other currencies and you can see it’s still serving its role as a safe-haven asset. Take Turkey, one of the world’s largest buyers of the precious metal and home to the ancient kingdom… Read More

Gold fell to fresh 18-month lows on Monday as the attractiveness of the hard asset continues to wane on the back of rising interest rates in the US and a strengthening dollar. December futures trading in New York declined 1.5% to $1,201 a troy ounce, the lowest since February last year and now down more… Read More

Elon Musk is no stranger to making controversial and outlandish comments, and his tweet last week is no exception. As you probably know by now, the perennial entrepreneur announced to his more than 22 million Twitter followers that he is “considering taking Tesla private at $420.” Despite the Herculean challenge—such a move would be the… Read More

Shares in Canada’s First Majestic Silver (NYSE:AG) (TSX:FR) dropped more than 10% in New York and Toronto on Monday after it posted a second-quarter loss of $40 million, compared to a profit in the same period a year earlier. The Mexico-focused miner said it had a loss of 22 cents on a per-share basis. Adjusted for one-time… Read More

Known as the gold capital of Uruguay, the northeastern town of Minas de Corrales held an urgent community meeting this week with the ministers of Employment and Industry to analyze what can be done to support the hundreds of workers currently on employment insurance due to Orosur Mining’s (TSX, AIM: OMI) decision to slow down… Read More

Almost 300 Navajo farmers and ranchers filed a lawsuit against the U.S. Environmental Protection Agency, as well as against eight EPA subcontractors and mining companies and subsidiaries involved in the 2015 Gold King Mine spill. The accident at the ancient Colorado mine took place after an EPA’s clean-up team working at the site accidentally caused the… Read More

The latest figures from the Shanghai Gold Exchange for the month of July see a marginal fall in demand for that month compared with a year earlier, but are still in total heading for a higher full year total than in 2017. The July gold withdrawal figures came in at 137.41 tonnes – around 5%… Read More

We cover the dollar breakout and the gold stock breakdown as well as Gold, which is ripe for a rally. But how much will it help the gold stocks? Click Here to Learn More & Subscribe to TheDailyGold Premium Source: The Daily Gold

The 24-page update was published and emailed to subscribers at 9:45 pm pacific time. The update focuses on the sector outlook and specifically for Gold and the gold stocks. Is Gold ready to rally? Should hedges be sold? How much upside do miners have? These questions are answered in the update. Source: The Daily Gold

By Christopher Aaron – August 11, 2018 Gold’s bottoming attempt following the 2015 low of $1,045 per ounce has failed to maintain a price structure indicative of a rising trend. Consequently, the odds have now shifted significantly that precious metals will not be in a bull market… Source: gold-eagle.com